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European Monetary Union
A coalition of European countries that have adopted a standardized legal tender, the euro, and have a unified monetary policy managed by the European Central Bank.
Domestically
Pertains to activities or production occurring within a country's borders, as opposed to internationally.
Import
Items or services imported from one nation to another for the purpose of selling.
Adam Smith
An 18th-century Scottish economist and philosopher regarded as the father of modern economics, known for his work on free markets and the division of labor.
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